Fraud & Security

Allegations that sensitive identification data managed by Israel-based AU10TIX could have been accessible outside of verified access are not fully accurate, AU10TIX says. The suggestion of a possible data exposure comes from a 404 Media report that says online administrative credentials were exposed for more than a year, according to …

The U.S. Supreme Court ruled a lawsuit challenging the Federal Reserve’s 2011 debit card cap as too high can move forward. The suit, brought in 2021 by a North Dakota truck stop, had been opposed by banks as having been filed too late. Downloads of digital-identity apps will grow 126% worldwide, …

Payments provider Payroc WorldAccess LLC has agreed to pay $440 million to acquire the merchant-of-record payments business of i3 Verticals Inc., a provider of software and services to public and private companies. Afterpay, a buy now, pay later platform and part of Block Inc., said 82% of BNPL users said the service …

The number of identity-theft cases fell last year, but criminals are getting savvier about how to win their victims’ confidence, with more of them relying on newer tools like artificial intelligence. And credit cards and other financial products remain a top target. That’s the mixed message from the Identity Theft …

Online grocery sales, which surged during the Covid pandemic as consumers avoided in-store shopping, continue to grow at a rapid pace, though the pandemic ended 13 months ago, according to the World Health Organization. Sales of groceries online, which include curbside pickup, increased 30% year over year in May, according …

Entrust Corp., a provider of identity technology, on Monday launched its Citizen Identity Orchestration platform, which is aimed at governments’ delivery of public services. The new platform, intended for such functions as benefits delivery, tax filing, health-care access, and border crossings, uses artificial intelligence for identity verification, issuance of digital …

As criminals’ knowledge of how to beat multi-factor authentication through phishing schemes increases, the need for payment providers to implement phishing-resistant solutions continues to grow. Phishing attacks are a form of social engineering in which cybercriminals deceive consumers into revealing personal and account information. The cybercrime can also involve installation …

The Consumer Financial Protection Bureau said it has settled on a process by which companies can comply with an upcoming personal financial data rights rule related to open banking. Cloud-based phone-service provider Ooma Inc. announced an integration with Square, the point-of-sale unit of Block Inc., to incorporate Square transaction data into business communications …

Visa Inc. says the 10 billion tokens it’s issued since 2014 are just the tipping point, as it expects Visa’s tokenized transactions to grow exponentially over the next several years. Visa announced the 10-billion milestone Tuesday. As of April, 29% of all transactions processed by Visa used tokens. Tokenization uses …

FreedomPay Inc. said Big 5 Sporting Goods has signed with the company to process payments at its 424 stores throughout the U.S. market. Canada-based identity platform Trulioo said it will work with Mastercard to offer identity-verification services in onboarding both merchants and consumers to help prevent fraud. The Consumer Financial Protection Bureau finalized a rule …